§ 5-28-29-9 — "Lender"

Indiana § 5-28-29-9

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 28: INDIANA ECONOMIC DEVELOPMENT
• Ch. 29: Capital Access Program

Text

As used in this chapter, "lender" means:
(1) a financial institution (as defined in IC 5-13-4-10); or
(2) beginning after June 30, 2018:
(A) a credit corporation (as defined in IC 23-6-4-1);
(B) an entity that:
(i) extends more than seventy-five percent (75%) of all
eligible loans made in the previous twelve (12) month period
to minority businesses (as defined in IC 5-28-20-4); and
(ii) is approved by the corporation as a lender in accordance
with the policy guidelines adopted by the board of the
corporation;
(C) a qualified "eligible intermediary" participating in the
federal Small Business Administration Microloan Program
pursuant to 15 U.S.C. 636(m), as amended from time to time,
and that is approved by the corporation as a lender in
accordance with the policy guidelines adopted by the board of
the corporation; or
(D) a non-credit union community development financial
institution that is approved by the corporation as a lender in
accordance with the policy guidelines as adopted by the board;
that has entered into an agreement with the corporation to participate
in the program.

Legislative History

As added by P.L.162-2007, SEC.24. Amended by P.L.146-2018, SEC.17; P.L.10-2019, SEC.34; P.L.197-2021, SEC.9.